XRP Breaks $1.50 as Spot ETF Inflows Remain Flat
XRP rose 7% to $1.57 on macro relief, but zero ETF inflows and $1.70 resistance cap the upside.
Key points
- XRP surged 7% to $1.57, breaking the $1.50 level amid a broader crypto rally.
- XRP spot ETFs recorded zero net inflows, contrasting with $600 million inflows for Bitcoin.
- Strong selling pressure near $1.70 prevents XRP from establishing a one-sided bullish trend.
XRP jumped 7% to reach a one-month high of $1.57. This move broke through the critical $1.50 resistance level. The surge followed a broader rally in major cryptocurrencies.
Bitcoin crossed $87,000 while Ethereum passed $2,800. These gains lifted overall market sentiment significantly. Risk assets attracted renewed buying from investors.
Macro Relief Fuels Crypto Gains
Easing Federal Reserve rate hike fears supported the rally. The Clarity Act resolution also removed regulatory uncertainty. Crude oil prices fell, boosting risk appetite.
The XRP Ledger proposed a Batch V1.1 upgrade. This update packages multiple transactions into one ledger entry. It aims to improve institutional cross-border payment efficiency.
ETF Inflows Remain Stagnant
Spot Bitcoin ETFs saw over $600 million in inflows. Ethereum products received $150 million, while Solana gained $26 million. XRP spot ETFs recorded zero net inflows.
TradingKey notes that capital concentrated in SEC-exempt sectors. Ripple did not benefit directly from these exemptions. This lack of institutional flow capped XRP's gains.
Resistance Caps Upside Potential
Selling pressure accumulates near the $1.70 price level. Trapped investors sell as prices approach this prior high. Profit-takers also exit positions at this resistance.
XRP remains confined within a consolidation pattern. It has not entered a definitive one-sided trend. Breaking $1.70 is required for sustained bullish momentum.
